Strategic Planning for Enhanced Business Performance

Around the world Small and Medium Enterprises (SMEs) are increasingly recognized as crucial drivers of socio-economic development. Their importance can be viewed in aspects as employment creation, productivity, innovation and income generation and distribution, poverty alleviation, ground for developing and upgrading entrepreneurial skills and promoting forward and backward linkages in diverse sectors of the economy. This makes them regarded as backbone of global economic growth and thus necessitates the proper implementation of well formulated plans. Unfortunately, majority of SMEs do not prepare strategic plans at all and even those who prepare do not implement them effectively. The emphasis is made on implementation of good strategies while overcoming the challenges and uses them as opportunities. The book targets all the entrepreneurs in all levels. Employers and employees of various organizations should also have a copy since they are involved in the planning process in one way or another especially on implementation. Researchers should also consider this book as a good reference material so that the value of strategic planning in SMEs is clearly identified.